Finance Minister Nirmala Sitharaman has said that the Supreme Court’s decision on the issue of Devas has once again shown how the Congress party has repeatedly committed national level scams. Launching an attack against the Congress party, Sitharaman said the United Progressive Alliance (UPA) government had signed a deal, which was full of discrepancies.
The Supreme Court on January 17 dismissed an appeal filed by Dewas Multimedia challenging the order of winding up of the company. A bench of Justices Hemant Gupta and Justice V Ramasubramaniam dismissed the appeal filed by Dewas Multimedia Pvt Ltd. This was the final verdict against Dewas in a legal battle with Antrix Corporation, the commercial arm of the Indian Space Research Organization (ISRO).
Finance Minister Nirmala Sitharaman said that the Supreme Court has given a comprehensive order. This is proof of how the Congress party, while in power, misuses its power and sells India’s resources. He said that 85 per cent of the funds have been embezzled.
The National Company Law Appellate Tribunal (NCLAT) upheld the earlier order of the Bengaluru Bench of the National Company Law Tribunal (NCLT), which had directed the closure of Dewas Multimedia on May 25, 2021 and a provision liquidator for the purpose was appointed. This direction of NCLT came on a petition filed by Antrix Corporation.
What Nirmala Sitharaman said-
Finance Minister Nirmala Sitaran said that the order of the Supreme Court brought about the space dewas. Earlier, the NCLT had issued a liquidation order. Dewas then approached the Supreme Court and it upheld the NCLT order.
The Finance Minister targeted the Congress. He said that there was only misuse of resources under Congress rule.
Nirmala Sitharaman said that the then Telecom Minister Kapil Sibal had held a press conference on this, but even a cabinet note on the matter was not mentioned on his behalf.
Union Finance Minister Nirmala Sitharaman said that I want to talk on the Supreme Court’s decision on the Devas-Antrix issue. The Supreme Court has given a comprehensive order. The deal was canceled by the UPA in 2011. It was a fraud deal.
The Finance Minister said that the Supreme Court has upheld the decision of liquidation of Devas Multimedia to raise funds by selling it.
Supreme Court dismisses Dewas Multimedia’s appeal against NCLAT order, know what is the whole matter
Antrix had tied up with Dewas in 2005 during the UPA government. It was a fraudulent deal. The deal was canceled by the UPA government in 2011.
The Finance Minister said, “Selling such wavelength, satellite or spectrum bands, raising funds by selling it to private companies has been the specialty of the Congress government.”
The Finance Minister said that in 2005 this deal was done between Antrix and Devas. It was a betrayal of the country and the people of the country.
Finance Minister Nirmala Sitharaman has accused the Congress-led UPA government of misusing power to sell S-band spectrum, which was used for national security.
S-bands are part of the spectrum frequencies from 2 to 4 GHz. It is specially used for air surveillance radar, weather radar, surface ship radar for air traffic control. Part of it is used as a communications satellite, which NASA uses to communicate with the Space Shuttle and the International Space Station.
Finance Minister Nirmala Sitharaman said that the Supreme Court order shows how the UPA government was indulging in wrongdoing. The Antrix-Devas deal was against national security. Now the Congress party should tell how such fraud was done with the people of India.
Finance Minister Nirmala Sitharaman says that the government is fighting in every court so that Dewas cannot escape from Antrix Deal Fraud. We are fighting to save the money of the taxpayers, which would have gone into this fraudulent Antrix-Devas deal.
Arbitration tribunals have awarded over USD 1.2 billion cost and interest on the pleas of Dewas shareholders against scrapping the Antrix deal, says Finance Minister Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman on Dewas-Antrix issue: This is a betrayal of Congress, for Congress and by Congress.
What is this matter?
This matter is from the year 2005. There was a deal between Indian Space Research Organization (ISRO) and Dewas Multimedia in which 2 satellites were to be launched by ISRO for Dewas Multimedia. These satellites were to be launched for the telecom sector. These were to be launched at a very low frequency, which would have required the company to install very few towers.
Then, being directly under the Prime Minister’s Office (PMO) of ISRO, a lot of questions were raised on this deal from 2005 to 2010 and there was a lot of ruckus and in the end this deal was canceled, after which Dewas Multimedia published its The company had approached the Supreme Court after demanding a very heavy compensation in return and after the NCLT decided against them, but there too Dewas Multimedia has been disappointed.
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